MPA awards three firms S$8m in funds to defray costs of building LNG-powered vessels
In addition to this, it unveils other incentives aimed at propelling the Port of Singapore into the age of LNG bunkering
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Singapore
THE Maritime and Port Authority of Singapore (MPA) on Wednesday used the Singapore International Bunkering Conference and Exhibition (SIBCON) as a platform to unveil a slew of initiatives aimed at taking Singapore's port-city into a cleaner-burning maritime future.
First off, it announced a financial incentive - S$8 million that will go into co-funding the building of ships that run on liquefied natural gas (LNG). These funds will defray the building cost for four ships, given that the MPA has set aside S$2 million for each vessel.
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